I saw the Army one was selling at $2500 so might be worth digging deeper as if real :

[h=2]Collector Warning[/h]Due to their late institution these awards are exceptionally rare. Be wary of purchasing an example unless you have handled known originals.

[h=2]Numbered Luftwaffe Panzer Badges - 25,50,75,100[/h]On November 10, 1944, just one week after the introduction of the standard Luftwaffe Panzer Badge, Reichsmarshall Goring introduced four new classes of panzer badge for 25, 50, 75, and 100 engagements. These badges were larger than the original badge and featured a small box containing the appropriate engagement number at the base of the wreath.

WARNING: These badges are extremely rare, if not impossible, to find. It is highly unlikely anything but trial samples were produced.

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looks like a fake, the originals have very crisp lines and excellent detail, I mean they're German right. :cheesy:

Yours is ill-defined and blurry, a lot of these were made in the 50's.

This below is likely an original, being offered by a dealer. Look at how detailed the relief is and how much the tank pops up at you from the back . Also, the numbered section is a separate piece, which makes sense. You would cast one badge to save resources, then drop in a small numbered piece for 25,50, 100. Again, very efficient and German.